Demand falls in the business class, and price fluctuations do not exceed inflation, but elite real estate sets records
The current year, on the eve of which the residential real estate market players were full of pessimistic expectations, exceeded the equator. Experts and analysts summarize. The situation in the real estate market can be called not the most optimistic, with the exception of the segment of elite housing. There is demand, prices are rising, new projects appear.
The most depressive indicators demonstrates the secondary housing market. According to the analytical portal “Real Estate Indicators”, in the first six months of 2025, average prices in Moscow rose by almost 2%, reaching 277.5 thousand rubles per square meter. m. Moreover, the main growth was marked by experts at the beginning of the year, while in May and June prices practically stood on the spot.
the offer of apartments from the beginning of the year decreased by almost 30%, and apartments – about 21%
The new buildings of the mass segment, the analysts of the metrium agency assure, rose by 9.9%in half a year, reaching 356.17 thousand rubles per square meter. m. However, from the middle of the last summer, according to the same report, the price has grown by only 4%, from which it can be assumed that in the second half of 2024 the first mass housing market has lost almost 6%.
Growth in the last half of the year can only be explained by the fact that people who previously planned to buy business class housing using a mortgage purchased more affordable apartments, but without using credit money or using it minimally. As a result, in the first six months of 2025, 14 thousand DDU contracts were concluded in this segment, which is 2% more than in the last half year. However, if we take the summer of the last year, the demand fell by 9.6%in the year.
, while in the mass segment of the primary market since the beginning of the year, analysts note, only one project has started (Narvin residential complex from the peak group, in the photo below). And the offer of apartments since the beginning of the year has decreased by almost 30%, and apartments-about 21%.
The segment of new buildings in the business class of Moscow feels even worse. Average price sq. m here, according to Metrium, is 486.72 thousand rubles, adding 5.1% over the past six months and 3% per year. In the first six months, 10.6 thousand DDU were concluded in the primary business class housing market, which revealed a drop in demand by 15% in six months and 12.5% per year.
As a result, today the share of the completed, but non-distributed housing in the primary market of the capital in this segment is already 16-17%. For comparison, in the second half of last year, this share varied between 13-14%. But, surprisingly, against the backdrop of a fall in demand, the business class segment became the leader in the number of starts of the construction of new projects. Moscow developers began the construction of 11 residential complexes. This can only be explained by the fact that house projects were developed in the bowels of companies for a long time, and today it is extremely difficult to stop this conveyor to developers. And it can be assumed that the lack of demand will affect the expansion of the construction time of these complexes.
interest in elite housing is supported by the high reliability of the segment
exceptions against the general background was the segment of the elite new buildings of the capital. Here, from January of this year, prices have risen by 12%, and since the summer of the past – by 34%, the analytical study of NF Group said. As a result, the average price of sq. m amounted to 2.187 million rubles, which, according to analysts, is a new record for the real estate market in Moscow.
According to experts, interest in elite housing is maintained due to the high reliability of the segment. For most rich people, the managing partner of NF Group, Alexei Novikov, argues, the purchase of an apartment is, first of all, the preservation of funds, and not an investment transaction in order to sell it in a year or two.
And in the second quarter, the elite segment of the new buildings of the capital was replenished not only by the new buildings of the SHIFT and LUZHNIKI complexes Collection, but also with new projects. The Glaz Development group brought to the market the Christmas 8 project (photo above), and Mr Privat began the construction of the “House of Sobolev” on Mashkova Street.
Thus, elite real estate has become the only segment that did not lose not only inflation, but also bank deposits, the profitability of which is today exceeding 18% annual.
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